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Ascensus to Acquire Qualified Plans to Expand Defined Benefits Solutions.

M2 EQUITYBITES-January 29, 2018-Ascensus to Acquire Qualified Plans to Expand Defined Benefits Solutions

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29 January 2018 - Pennsylvania, US-based technology-enabled service provider Ascensus has agreed to acquire Georgia, US-based defined benefit plans consultancy Qualified Plans LLC to expand TPA presence in the Southeast US, the company said.

Terms of the transaction were not disclosed.

The third-party administration firm will immediately become part of Ascensus TPA Solutions.

Ascensus said acquiring Qualified Plans to become part of its TPA Solutions business is an indication of its ongoing commitment to provide solutions to advisors through a platform-independent, open-architecture business model.

Ascensus helps more than 7m Americans save for the future--retirement, college, and healthcare--through technology-enabled solutions.

The firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers and individuals. Ascensus has over USD 158bn in total assets under administration.

Qualified Plans provides plan design, consultation, compliance, and administration services for defined contribution and defined benefit plans.

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Publication:M2 EquityBites (EQB)
Date:Jan 29, 2018
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